The pursuit of ‘stable government’ could become a trap: there will be great pressure from the establishment to keep its privileges intactn scary enough circumstances, “stability” can be one of the most appealing words in politics.
There may be a sense for many voters of waking up from a long nightmare. The shocks and disasters since thereferendum, seven grim years ago, have been so relentless that if a Starmer premiership can bring this sometimes frightening time to an end, or even just reduce the chaos for significant periods, then the bulk of the population who prefer not to think about politics may be quietly grateful.
Labour people should not have any illusions, however, about the nature of the alliance being offered. Some businesses may like stability some of the time, but capitalism is a system with instability at its heart: the constant churn of markets, the starkly diverging outcomes of profit and loss, the creation of winners and losers, the roller-coaster of boom and bust.